DIA results weaken in Q3

DIA has reported a set of weak results for its fiscal third quarter, hurt by temporary store closures and low inflation.

For the three months to end-September, sales edged up 0.8% to 2.32 billion euros (+8.7% constant-currency basis), but adjusted operating profit was down 4% to 101.2 million euros (+2.2% constant-currency), while underlying net profit declined by 4.4% to 61.1 million euros (-0.6% constant-currency).

However, DIA noted that like-for-like sales were up 10% for the quarter, adding that “sales growth patterns were strong again” in every market. It added: “Sustained price investments combined with improved service for our customers are paying off”. (www.kamcity.com[5])